|
| Monge-Arino, Francisco; Gonzalez-Vega, Claudio. |
| Decoupled payments have emerged as an alternative to traditional agricultural subsidies that are coupled to production decisions, in order to minimize the distorting impacts of domestic agricultural policy. Economic theory suggests that, when farmers face imperfections in key markets such as that for financial services, even lump-sum subsidies may affect agricultural output. This paper explores these issues by developing and solving a deterministic dynamic optimization model for a credit-constrained representative corn farming household in the United States. The model is parameterized using data from the USDAs ARMS database. Simulations for different levels of DP and other parameters were conducted, and three effects on agricultural output... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Agricultural Finance. |
| Ano: 2007 |
URL: http://purl.umn.edu/9837 |
